Launched: 2001
Key Executives:
2025 Full Year Expected Revenue Range: $300 to $400 million according to industry estimates
2025 Projected Offline Distribution Points: 47,000
Primary Category: Color Cosmetics
Other Categories: Skincare
Key Markets: Germany, Western Europe, North America
Retail Partnerships: Ulta Beauty, Target, Amazon, Shoppers Drug Mart
Primary Distribution Channel: Prestige
Other Distribution Channels: Mass, Drugstore, Amazon
Funding Rounds: Self-funded
Cosnova, essence’s parent company, was founded in Germany in 2001 by Christina Oster-Daum and Javier Gonzalez, driven by a vision to make beauty accessible to all. Recognizing a gap in the European market for makeup that was both affordable, effective, and innovation driven, Christina set out to bridge that divide. This vision gave rise to essence makeup. While the beauty industry has grown significantly more competitive since then, our mission remains the same: to innovate and deliver high-quality makeup and formulations at an accessible price point. We believe that beauty should be inclusive, empowering individuals to express themselves with products they feel proud to wear—regardless of age, financial situation, or background. In the last three years, we have tripled our global sales, which has been a huge marker of our success globally.
Insights provided by Jeffery Wagstaff, CEO, cosnova USA Inc.
Key business initiatives for 2025?
We’re proud to be the #1 volume brand in Europe, but our sights are set on even greater growth. In 2025, our goal is to work towards solidifying our position as a market leader in the US. In the shorter term (two to five years) that means aiming to become a top-ten brand in the retailers where we sell—a challenge we approach with determination, understanding it’s a journey that requires consistent effort.
Over the years, we’ve seen steady success, but 2025 will be pivotal. We plan to expand our community engagement, strengthen our brand presence, and diversify our assortment, particularly in categories we have not yet conquered. Currently, essence is available in major retailers like Ulta Beauty, Amazon, Target, CVS, TikTok Shop, and our own website. These platforms have been integral to our growth, and we have ambitious plans to build on this momentum in 2025 and beyond. For us, this isn’t a sprint but a marathon—laying the foundation for a lasting, impactful presence in the US market.
What are you most proud of having accomplished?
In 2024, cosnova is proud to announce that it has surpassed $1 billion in revenue. This significant milestone underscores the company’s rapid international expansion and reflects the expanding influence of cosnova’s US arm, as well as essence’s growth, which achieved a notable increase in sales in 2024, driven by strong retail partnerships with Target, Ulta Beauty, and Amazon, now accounting for a large majority of the brand’s US sales. Notably, essence expanded into over 250 new Target locations this year, reinforcing its position as a go-to mass beauty brand in the US and remains a consistent #1 bestseller in the beauty and cosmetics category on Amazon.
What has been the biggest surprise?
When we expanded from Germany into the US, we quickly realized that a one-size-fits-all approach wouldn’t work. What resonated with consumers in Continental Europe didn’t always appeal to those in the US. This required us to adapt while staying true to our core company values.
Our marketing team, led by CMO Jill Krakowski, did an incredible job tailoring our strategy for the US market. The team not only specialized in the approach to meet the unique needs of US consumers but also used those insights to shape our global strategy. The industry has shifted from relying on traditional media to being driven by social platforms. Today, shopping and trends are influenced less by major publications and more by other consumers. This shift has directly informed our strategy, pushing us to ask: Who are we targeting? What products are we offering? What unique needs are we fulfilling?
This adaptive approach has helped us build a collaborative bridge between the US and Germany, enabling us to meet consumer demands more effectively. We’ve embraced the fact that the US leads in trendsetting, and that perspective has been instrumental in driving our success globally.
What fuels your competitive advantage?
The foundation of our competitive advantage lies in our unique brand DNA, as an independently owned, family-run business that commits to our core values that have been with the company since it was founded.
Since our inception, we’ve remained privately owned by the same husband-and-wife duo, Christina and Javier, who founded the company. Unlike many competitors, we operate without loans or private equity backing, which allows us to avoid external pressures or aggressive targets. Instead, our focus remains steadfast on delivering immense value, exceptional quality, and continuous innovation.
Our operations are built on a world-class infrastructure, developed in Germany, that prioritizes efficiency and excellence. This dedication has positioned us as the volume leader in Europe and a market leader in value in our home market. Our success is fueled by our ability to stay true to our mission while consistently evolving to meet the needs of our customers, proving that a values-driven approach can drive both growth and sustainability in a competitive industry.
Insight on the future of the beauty industry.
The beauty industry is one of the most dynamic and trend-driven categories I’ve had the pleasure of working in. It’s a space where innovation thrives, fueled by the ever-present demand for beauty as a necessity rather than a luxury. Looking ahead, I see the industry continuing to evolve, driven largely by the expectations of younger generations. To stay relevant, brands will need to remain agile, meeting the high-quality standards set by Gen Z and Gen A while also addressing their growing demand for sustainable, planet-friendly solutions. Additionally, I anticipate the industry will increasingly embrace AI, finding innovative ways to enhance customer experiences. The challenge will lie in leveraging this technology effectively while maintaining authenticity and relatability—key pillars of connection in this space.
What is the best piece of advice you’ve been given?
The best advice I’ve received is something I learned during my time at Coty: you don’t have to do everything or make every decision yourself. The key to success is building a strong, capable team around you. By trusting and empowering others, you create an environment where collaboration thrives, and together, you can achieve far more than you ever could alone. Also, something I learned from an old mentor of mine is, control the things you can control—whether that be what you can do to operate more efficiently to generate more revenue for your brands, or even something as simple as arriving to the airport early, focus on what’s in your control and put your energy there.
What is the best mistake you've ever made and what did you learn?
The best mistake I’ve ever made was underestimating the sheer power of TikTok as a platform for connecting with our consumers. While we were always present, really from the start, it took us a moment to fully grasp how big we could make it for our brand. After learning its power, it pushed us to rethink and dive all in. Since then, we've embraced TikTok tenfold, activating with thousands of creators every year—across both earned and paid capacities—from micro-influencers to the most mega creators. This experience taught me the importance of being open to evolving consumer trends and not just participating but leading in them. We’ve carried this mindset into many of our strategies moving forward—whether it was diving into the world of Roblox, hosting a college roadshow, or partnering with female athletes—focusing on approaches that let us truly harness what our consumers want and ultimately, connecting with them more deeply.
What advice would you give to someone contemplating launching a beauty brand?
My advice to anyone considering launching a beauty brand is to develop a broad understanding of all aspects of the business. From marketing and product development to manufacturing, finances, and beyond, every component plays a vital role in your success. Efficiency is key. To run a thriving beauty brand, you need to understand each piece of the puzzle to make well-informed decisions that align with your vision and goals. Whether it’s choosing the right suppliers, creating a compelling marketing strategy, or managing your budget effectively, having a comprehensive knowledge of your business will empower you to navigate challenges and seize opportunities with confidence. Of course, as mentioned earlier, these decisions are made with a team of good people around you but being able to participate in these conversations and to truly understand is invaluable.
If you could change one thing in the beauty industry what would it be?
If I could change one thing, it would be to prioritize transparency and sustainability across the board. While many brands have made progress, the beauty industry still has room to improve when it comes to clear ingredient labeling, eco-conscious packaging, and ethical sourcing. Consumers today are more informed than ever, and brands must be held accountable to meet these expectations. Creating products that are not only effective and affordable but also sustainable is a challenge worth taking on. It’s a shift that would benefit not only the industry but the planet as well.
